FIR 22: Picking A MENTOR...Know YOUR PLAN First!!

Financial Investing Radio

Hi Everybody this is Grant, it's early July 2017.

I will be doing a WebClass on July 8, 2017 @ 12pm Pacific Time - discussing how to get started on the investing & trading journey. You can register at www.financialinvestingsecrets.com.

The E-mini futures and also the SPY have been chopping around the last couple weeks after making highs. The Nasdaq futures have retraced and touched the 89 EMA. And Oil futures (CL) did a large bounce up starting about 6 days ago. Meanwhile Apple (AAPL) dropped about 2 weeks ago and is also sitting on its 89 EMA.

So, which way is the market going? I am interested in your thoughts...email me at: [e-mail].

Recently I had the opportunity to interview one of my mentors, check out episode 21. This caused me to think through the process of selecting a mentor. There are several things to consider when selecting a mentor, including:

1. Plan your roadmap to financial control (I will cover this in an upcoming podcast) 2. As part of your roadmap set goals 3. Identify the investment strategies that align with your goals 4. Look for mentors that align with the investment strategies

1. Plan your roadmap to financial control (I will cover this in the next podcast) Next podcast

2. As part of your roadmap set goals Financial goals align better with some investment strategies than others. For example, consistent cash flow to help achieve goals such as debt reduction.

3. Identify the investment strategies that align with your goals Generally this includes learning about various investment strategies first. After that you need to practice with those strategies in a safe manner to learn which strategies fit your personality and you use well.

This is a key part of selecting a mentor, you will need to be clear on what investing styles work well for you and your personality.

4. Look for mentors that align with the investment strategies This process is iterative. I have had several mentors throughout my time trading. Each mentor added a critical piece to the overall picture for me.

The mentor I had on my podcast yesterday understands the overall markets very well, he excels as cash flow strategies for options, and the need for each investor or trader to determine what system they will use or create. He looks at each step you take as part of your overall journey.

For example, for my personality I discovered that I needed a two-pronged approach to my investing. The first was I needed to establish cash flow; this was critical to monthly cash income, which aids monthly bills.

I also knew that on top of that I needed to have a portion of my portfolio that was focused on growth and higher returns. What I discovered was the need to find high-probability GROWTH opportunities. That required more study on my part. I found a mentor who excelled in that area; and hopefully one day I can get him on my podcast as well.

It is super critical to understand yourself, your goals, and where you are on the journey to help you pick the proper mentor.

Without some kind of roadmap, then your investing and trading journey will be like Alice In Wonderland, who when she was at a fork in the road did not know way to go; and without a plan, then ANY ROAD may be OK --- but NOT NECESSARILY the best thing for your goals.

So take the time to be intentional and start working on your roadmap.

Stay tuned for the next podcast, where I will introduce a roadmap for you to build on.

Until next time, Trade Safe!